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Illinois Statutes Chapter 40. Pensions § 5/11-125.7. Transfer to Article 18 system

Current as of January 01, 2022 | Updated by FindLaw Staff

§ 11-125.7. Transfer to Article 18 system. Any active member of the Judges Retirement System who is eligible to transfer service credit to that System from this Fund under subsection (g) of Section 18-112 may apply for transfer of that service credit to the Judges Retirement System. The credits and creditable service shall be transferred upon application, and shall include payment by this Fund to the Judges Retirement System of:

(1) the amounts accumulated to the credit of the applicant for that service, including interest, on the books of the Fund on the date of transfer; and

(2) the corresponding employer credits computed and credited for that service under this Article, including interest, on the books of the Fund on the date of transfer.

Participation in this Fund as to the credits transferred under this Section shall terminate on the date of transfer.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 40. Pensions § 5/11-125.7. Transfer to Article 18 system - last updated January 01, 2022 | https://codes.findlaw.com/il/chapter-40-pensions/il-st-sect-40-5-11-125-7/

Read this complete Illinois Statutes Chapter 40. Pensions § 5/11-125.7. Transfer to Article 18 system on Westlaw

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